Bank Failure
FIRST CITY BANK OF FLORIDA
Closed October 16, 2020 · FORT WALTON BEACH, FL · FDIC Cert #16748.
- Closing date
- October 16, 2020
- Headquarters
- FORT WALTON BEACH, FL
- FDIC Certificate
- 16748
- Total assets at closing
- $136,566,000
- Total deposits at closing
- $133,936,000
- Estimated loss to DIF
- $7,247,000
- Resolution type
- other
- Acquirer
- UNITED FIDELITY BANK, FSB (FDIC Cert #10537)
Context
On October 16, 2020, regulators closed FIRST CITY BANK OF FLORIDA, headquartered in FORT WALTON BEACH, FL. At closing, the institution held approximately $136,566,000 in assets and $133,936,000 in deposits. The FDIC arranged a resolution under which UNITED FIDELITY BANK, FSB acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $7,247,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 2020
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 2020-10-23 | ALMENA STATE BANK | ALMENA, KS | $65,733,000 |
| 2020-04-03 | THE FIRST STATE BANK | BARBOURSVILLE, WV | $151,808,000 |
| 2020-02-14 | ERICSON STATE BANK | ERICSON, NE | $100,879,000 |
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